Mission Produce (NASDAQ:AVO) Major Shareholder Acquires $990,150.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 71,750 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was purchased at an average cost of $13.80 per share, with a total value of $990,150.00. Following the acquisition, the insider owned 9,770,608 shares in the company, valued at $134,834,390.40. The trade was a 0.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings Venture Globalharvest also recently made the following trade(s):

• On Wednesday, January 21st, Holdings Venture Globalharvest acquired 237,270 shares of Mission Produce stock. The shares were acquired at an average cost of $12.92 per share, for a total transaction of $3,065,528.40.
• On Tuesday, January 20th, Holdings Venture Globalharvest bought 300,000 shares of Mission Produce stock. The stock was acquired at an average price of $12.50 per share, with a total value of $3,750,000.00.
• On Friday, January 16th, Holdings Venture Globalharvest purchased 324,295 shares of Mission Produce stock. The shares were acquired at an average price of $12.37 per share, for a total transaction of $4,011,529.15.
• On Thursday, January 15th, Holdings Venture Globalharvest acquired 985,704 shares of Mission Produce stock. The stock was acquired at an average price of $11.76 per share, with a total value of $11,591,879.04.
• On Thursday, January 8th, Holdings Venture Globalharvest bought 13,683 shares of Mission Produce stock. The shares were acquired at an average cost of $11.96 per share, for a total transaction of $163,648.68.
• On Wednesday, January 7th, Holdings Venture Globalharvest purchased 7,472 shares of Mission Produce stock. The stock was bought at an average cost of $11.61 per share, with a total value of $86,749.92.
• On Monday, December 29th, Holdings Venture Globalharvest acquired 59,761 shares of Mission Produce stock. The shares were bought at an average price of $11.60 per share, for a total transaction of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest acquired 13,679 shares of Mission Produce stock. The shares were bought at an average cost of $11.64 per share, for a total transaction of $159,223.56.
• On Wednesday, December 24th, Holdings Venture Globalharvest bought 15,365 shares of Mission Produce stock. The shares were bought at an average cost of $11.60 per share, with a total value of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest bought 112,505 shares of Mission Produce stock. The stock was purchased at an average price of $11.61 per share, for a total transaction of $1,306,183.05.

Mission Produce Price Performance

Shares of AVO traded up $0.19 during mid-day trading on Monday, reaching $13.65. 130,439 shares of the stock traded hands, compared to its average volume of 1,072,369. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Mission Produce, Inc. has a 1 year low of $9.56 and a 1 year high of $14.23. The company has a market cap of $963.07 million, a price-to-earnings ratio of 26.24 and a beta of 0.56. The firm has a fifty day moving average price of $12.16 and a 200 day moving average price of $12.20.

Mission Produce (NASDAQ:AVO) last posted its earnings results on Thursday, December 18th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The business had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $301.60 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Mission Produce’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

AVO has been the topic of a number of research reports. Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Lake Street Capital reissued a “buy” rating on shares of Mission Produce in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Institutional Trading of Mission Produce

Institutional investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its holdings in Mission Produce by 1.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock worth $1,160,000 after buying an additional 958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mission Produce by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock valued at $271,000 after acquiring an additional 1,092 shares in the last quarter. AlphaQuest LLC lifted its position in Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock valued at $56,000 after acquiring an additional 1,174 shares in the last quarter. Magnetar Financial LLC lifted its position in Mission Produce by 12.6% in the 3rd quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock valued at $146,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Mission Produce by 12.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,375 shares of the company’s stock valued at $185,000 after purchasing an additional 1,667 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.